PCU helps primary pupils save thousands

November 29th, 2017

 

 

 

Pupils at Cardonald Primary School and Our Lady of the Rosary have turned into savvy savers after opening their own savings account through PCU’s School Bank Savings clubs and have saved a whopping £45,000!

Supported by volunteers on the parent council, four primary seven pupils run this initiative and have been appointed as bank manager, assistant bank manager, cashiers and records clerk.

We set up the scheme to encourage children to become financially aware from a young age. It also teaches them the importance of saving for the future as well as showing them how banking systems operate.

Cardonald Primary School Bank opened in 2012 and there are currently 110 pupils enrolled as members. Over five years the pupils have saved £45,000.

Cardonald Primary School Bank Savers Club

Our Lady of the Rosary launched its School Bank Savings Club in August this year and already 100 pupils have signed up saved £3,000.

Diane Strang, teacher at Cardonald Primary told us: “The children’s enthusiasm for the scheme has been infectious. One primary two saver has told us he is saving for a car, and lots of our pupils are saving to buy Christmas presents for friends and family. Hopefully they have positive experience and it’s something that they’ll want to keep up when they go to secondary school.”

Jim Garrity, Operations manager at Pollok Credit Union, added: “This programme promotes sensible saving and community benefits that credit unions like PCU champion. Hopefully by instilling this approach to savings and money at an early age will encourage the children to take their credit union membership into adulthood”

Congratulations to all the pupils who have saved so far, and if you want to set up your own School Bank Savings Club, get in touch on 0141 881 8731.